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How safe is cryptocurrencies?

  • Thread starter Thread starter Yaqoob Habib
  • Start date Start date
No,I don't think cryptocurrency is secure that much because it not a government unlike the bank
But there is a way u can secure your cryptocurrency wallet to avoid you losing your money,by remembering the login details of your cryptocurrency wallet with that I think your cryptocurrency is secure 100% and make sure your cryptocurrency wallet is attache with bank
 
Cryptocurrencies are not government insured, as are U.S. bank deposits. This means that online deposited cryptocurrencies do not have the same security as cash in a bank account. The government may not be able to step in and help if you store your cryptocurrency in a digital wallet provided by a company and the company goes out of business or is hacked.
 
Yaqoob Habib said:
Cryptocurrency are not backed by a government.
Cryptocurrencies are not insured by the government like U.S bank deposit are, This means that cryptocurrencies stored online does not have the same protections as money in a Bank account.
Click to expand...
Cryptocurrency is very secured , especially when it is stored using a Dex wallet or an offline wallet. US Bank do accept Bitcoin to the best of my knowledge . Am surprised reading this from your post . In my country , we convert cryptocurrency to Fiat currency
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Yaqoob Habib said:
Cryptocurrency are not backed by a government.
Cryptocurrencies are not insured by the government like U.S bank deposit are, This means that cryptocurrencies stored online does not have the same protections as money in a Bank account.
Click to expand...
Cryptocurrency is very secured , especially when it is stored using a Dex wallet or an offline wallet. US Bank do accept Bitcoin to the best of my knowledge . Am surprised reading this from your post . In my country , we convert cryptocurrency to Fiat currency
 
Cryptocurrencies aren't backed by a government.
Cryptocurrencies are not insured by the government like U.S. bank deposits are. This means that cryptocurrency stored online does not have the same protections as money in a bank account.
 
Cryptocurrency exchanges have been prone to hacks and other criminal activity. These security breaches have led to sizable losses for investors who have had their digital currencies stolen, never to be seen again. Frauds and scams are also rampant in the cryto industry.
 
Yaqoob Habib said:
Cryptocurrency are not backed by a government.
Cryptocurrencies are not insured by the government like U.S bank deposit are, This means that cryptocurrencies stored online does not have the same protections as money in a Bank account.
Click to expand...
Actually its safe or I should say its more safer than money in the banks! Because we are taking of blockchains here... baba are actually using your money of you don't know.

Quote of the day:
Never give up, because the breakthrough is near. Keep pushing till you win
 
Yaqoob Habib said:
Cryptocurrency are not backed by a government.
Cryptocurrencies are not insured by the government like U.S bank deposit are, This means that cryptocurrencies stored online does not have the same protections as money in a Bank account.
Click to expand...
Even our paper currencies are not also sare because economic indices do effect their prices. They will fall sometimes and rises sometimes. Same goes for cryptocurrencies. Cryptocurrencies naturally is volatile. And cryptocurrency is also risky just like any other business.
 
It's a well known fact that cryptocurrencies are very volatile and they can erupt at anytime like a volcano leading to a huge loss or gain. Whoever plans to invest in cryptocurrency should do so with Wisdom and prudence to avoid regrets.
 
Cryptocurrency is extremely safe, it seems to be the new sheriff in town the government are very scared of it because of it's effect as there is no way they could control it. Just last week the government of my country banned any form of cryptocurrency transaction.
 
Cryptocurrency is one of the riskier investment choices out there, according to Reports. However, digital currencies are also some of the hottest commodities. If you're planning to invest in cryptocurrencies, these tips can help you make choices.
 
That's very true crypto currency is not insured by any government organization, but I believe that this is also the major essence of cryptocurrency, decentralization and not controlled by any government or agencies controlled by the government.
 
One of the first things you probably did was visit a bank and exchange your money for the local currency. A Benjamin can buy you a nice dinner in the States, but if you want to enjoy fine dining in Italy, then you’ll need some euros!

Investing in cryptocurrency is similar to exchanging your money in a new country. Bitcoin, Litecoin, and Ether are a few examples of “foreign currencies” that work in a very specific context within certain online communities.
 
Very safe! In fact, the safest! You don't have to worry about getting robbed, no one knows your worth. The government can't bring their ridiculous charges. You can access your accounts tirelessly, fewer charges and so many more. You can even invest without the public and secretly
 
Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions. It's a peer-to-peer system that can enable anyone anywhere to send and receive payments. Instead of being physical money that is carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database that describes specific transactions. When you transfer cryptocurrency funds, the transactions are recorded in a public ledger. You store your cryptocurrency in a digital wallet.
 
I won't say crypto currency is safe niether Will I say it is not safe, it is just on a flat rate, cryto currency changes at anytime. Though so far crypto currency is okay to invest in.
 
There is no such thing as a risk-free investment. Any investment entails some level of risk. However, some investments are unquestionably less risky than others. Cryptocurrencies are notoriously unpredictable, which means they can result in significant losses one minute and massive profits the next.
 
Naturally I hold some fear about cryptocurrencies. The fact that it might never be a recognised currency in the world is frightening and this alone make me feel a bit backwards towards investing much into it
 
Crypto currency is safe a lot of people have invested in it ,there are some certain coin you should not still invest on ,make your research properly
 
Yaqoob Habib said:
Cryptocurrency are not backed by a government.
Cryptocurrencies are not insured by the government like U.S bank deposit are, This means that cryptocurrencies stored online does not have the same protections as money in a Bank account.
Click to expand...
The way you just spoke about it, I have also wondered if this digital currency of a thing will not later have issues and challenges in the future.
 
Abbeyola said:
The way you just spoke about it, I have also wondered if this digital currency of a thing will not later have issues and challenges in the future.
Click to expand...
It wont have issues and challenges in future ,and its now that the demands of those coin are going to move higher because a lotvof development are going on
 
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